In spite of continued economic uncertainty, auto sales in Baton Rouge and beyond are in better shape than they’ve been in years, says Eric Lane, vice president of Gerry Lane Enterprises, which has four area dealerships. Pent-up demand paired with low interest rates and high trade-in values are all contributing to increased sales, Lane says. Because prices on most makes and models have not risen in about three years, more consumers are also leaning toward luxury cars. “People are now paying monthly notes for Cadillacs that they used to pay for Chevrolets,” Lane says.
In recent weeks, sales at Gerry Lane Cadillac have doubled last year’s numbers and reached a four-year high, Lane says. Nationwide, auto sales by the Big Three U.S dealers rose slightly in August over the month previous and far outpaced 2010 figures. GM reported an 18% year-over-year increase, Ford sales rose 11% and Chrysler had its best month in four years with a 31% increase. “Auto sales were the first thing to tank in this recession, starting in about ’08, and I think we’re going to be the first to come out,” Lane says. “It’s not just Baton Rouge. The car business nationwide is beginning to come out of the recession.”
Brian Harris, who has four dealerships in Baton Rouge and Slidell, selling everything from Chevrolets to BMWs, says he had the best July for sales in three years. Harris says the low interest rates, along with people being “sick and tired of hearing all the negatives,” caused sales to pick up. —Steve Sanoski and Timothy Boone
Today’s poll question: Do you plan to buy a vehicle before the end of 2011?
